Oil and natural gas production in the U.S. is booming. Growth is particularly strong in the Permian Basin that straddles Texas and New Mexico. In fact, the International Energy Agency (IEA) is forecasting that U.S. oil producers will set output records between now and 2030. U.S crude oil production is forecast to rise by 2.1 million barrels per day (bpd) above 2023 levels by 2030. West Texas Intermediate crude oil, the U.S. standard, is currently trading right around $81 per barrel. At the same
Targa Resources, Sunoco LP and NGL Energy Partners are part of the Zacks Industry Outlook article.
Following a careful analysis of the Zacks Oil and Gas - Refining & Marketing MLP industry, we advise focusing on companies like TRGP, SUN and NGL,